Home Sale Law in Indiana
The decision to buy or sell a house, or other piece of real property, is very critical. For most, it's one of the most crucial financial decisions of their life.
While there are no laws in Sellersburg, Indiana against persons buying or selling real estate on their own, this is rarely the ideal way to go, given the many legal issues surrounding the sale of property.
Many individuals, families, and small businesses rely on real estate brokers to find property for them. Real estate brokers are professionals who assist as middlemen or women between the buyers and sellers of real estate.
Sellersburg, Indiana real estate brokers are normally paid by taking a pre-determined portion of the house's sale price.
Getting a Mortgage in Sellersburg, Indiana
First and foremost, if a buyer asks any question of the seller relating to physical defects in the property, the seller must, under all situations, be as truthful as possible. In this case being "as truthful as possible" means answering such questions to the best of your knowledge, and making reasonable efforts to find the answers if you don't know them. Lying in this case is very bad idea, and will expose you to serious civil penalties
Additionally, most defects should be disclosed even if the buyer doesn't directly ask about them. Typically, defects which must be disclosed are those which are known to the seller, and which the buyer cannot be expected to find through a regular inspection.
As a buyer, you should be aware that you have some commitments in this area, too. Buyers are expected to be diligent. Failure to do so might prevent the buyer from recovering in a lawsuit.
Thus, buyers must inspect the property before they buy it. If they don't, they can't sue for any defects they later become aware of, if an inspection would have revealed those defects.
Can a Sellersburg, Indiana Real Estate Attorney help?
When buying a house, most individuals want to focus on the aspects that really matter to them, such as moving in. For that reason, it's highly desirable that the process of buying and selling a house goes as smoothly as possible. To that end, a good Sellersburg, Indiana real estate attorney could be invaluable.